Slide 1: Profitable Production: Second Quarter 2012 Results
Profitable Production Second Quarter 2012 Results Conference Call / Webcast – July 26, 2012 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, project plans or future fin
Slide 2: Barrick Results and Priorities
Second Quarter 2012 Results Jamie Sokalsky Igor Gonzales Ammar Al-Joundi Kelvin Dushnisky Rob Krcmarov President and CEO Executive Vice President Executive Vice President Executive Vice President Senior Vice President and COO and CFO Corporate & Legal Affairs Global Exploration 3 Barrick Results and
Slide 3: Second Quarter Results and 2012 Operating Outlook
Second Quarter Results Net earnings of $0.75 B ($0.75/share) Adjusted net earnings of $0.78 B ($0.78/share)(1) EBITDA of $1.51 B(1) Operating cash flow (OCF) and adjusted OCF of $0.76 B(1) Gold: 1.74 Moz at total cash costs of $613/oz(1) – $534/oz(1) on a net cash costs basis Total cash
Slide 4: 2012 Exploration Outlook / Pascua-Lama Capital Cost and Schedule Review
2012 Exploration Outlook North America North America 45% Africa 5% Africa Australia Pacific Africa Copper 20% Copper 20% South 20% America South 10% America Australia Pacific 2012 exploration budget of $450-$490M(1) Mine Project reflecting 2011 success Exploration Top 3 (1) See final slide #6 Main
Slide 5: Pascua-Lama Key Challenges and Cost Increases
Pascua-Lama Chile and Argentina Key Challenges 1. Unique complexity of the project – combination of scale, altitude, terrain and remoteness – the magnitude of skilled labor requirements 2. Externalities – persistent high inflation in Argentina – competition for labor and other resources due to commo
Slide 6: Pascua-Lama Actions Underway
Pascua-Lama Chile and Argentina Actions underway Strengthen project management structure Leading EPCM organization to provide an independent assessment of project status Mitigation of specific cost pressures – expedited procurement to protect against price pressures p – expanded local procurem
Slide 7: Lumwana Copper Zambia
Lumwana Copper Zambia Past owner operated to maximize short term production Performance P f primarily i il impacted i t d by b a historical hi t i l waste stripping deficit Q2 also impacted by planned maintenance and rainy season effects on ground conditions and equipment Key initiatives und
Slide 8: Lumwana Exploration; Pueblo Viejo Dominican Republic
Lumwana Copper Zambia Exploration exceeding expectations 23 drill rigs currently operating Substantial infill drilling for more precise mine plan model and expansion prefeasibility by end of 2012 Further definition and extension to the favorably thickened Equinox and Roan shoots – more recentl
Slide 9: Pueblo Viejo Dominican Republic
Pueblo Viejo Dominican Republic Autoclave 100-125 Koz at total cash Operating Deck costs of $400-$500/oz in 2012(1) 625-675 Koz of average annual production at Conveyor from Crusher total cash costs of $300-$350/oz(2) 25+ year mine life All figures are Barrick’s 60% share (1) See final slide #
Slide 10: Jabal Sayid Copper Saudi Arabia; Disciplined Capital Allocation
Jabal Sayid Copper Saudi Arabia Crusher Essentially complete and Operational expected to be within capex guidance id off ~$400 $400 M(1) Expected to produce 25-35 Mlbs of copper in 2012 100-130 Mlbs of average Process Circuit annual copper production at C1 cash costs of $1.50-$1.70/lb(2) (1) S
Slide 11: Disciplined Capital Allocation; Going Forward
Disciplined Capital Allocation Cerro Casale and Donlin Gold do not currently meet our investment criteria; we would not make a positive decision to construct these projects at this time – significant optionality – represent valuable long-term opportunities – advance permitting activities at reason
Slide 12: Chimiwungo Selective Results
APPENDIX 23 Chimiwungo Selective Results Thick and High grade Copper Intercepts 2011 Schematic X Section 2P + M&I Resources Roan Shoot Equinox Shoot Inferred Resources 39m @ 0.98% Cu 13m @ 1.26% 1 26% Cu 27m @ 0.95% Cu 17m @ 0.97% Cu 29m @ 1.22% Cu 23m @ 0.85% Cu 41m @ 1.09% Cu 63m @ 1.28% Cu 13m @
Slide 13: Chimiwungo Deposit
Chimiwungo Deposit Robust Characteristics Completed drilling Schematic X Section 2011 June 2011- June 2012 2P + M&I Resources Pending drilling 2012 Roan Shoot Equinox Shoot Results pending Inferred Resources Mineralized Intercepts Roan Shoot: Ore zones typically ~60m thick grading 0.8% Cu Equinox
Slide 14: Footnotes
Footnotes 1. Adjusted net earnings, EBITDA, adjusted operating cash flow, gold total and net cash costs per ounce, gold total and net cash margins per ounce, C1 copper cash costs per pound and C1 copper cash margins per pound are non-GAAP financial measures. See pages 44-48 of Barrick’s Second Quart